Fairfax India to acquire additional 10 per cent stake in BIAL

Fairfax India is to reportedly acquire an additional 10 per cent stake in Bangalore International Airport Limited (BIAL) from Siemens Project Ventures in a transaction valued at $255 million. The transaction is expected to be closed in the first quarter of 2025, and is subject to the approval of the shareholders of Fairfax India. The purchase price is to paid in three separate payments. Following the transaction, Fairfax India’s stake will rise from 64 per cent to 74 per cent, where 30.4 per cent will be held by Fairfax India’s wholly-owned subsidiary and 43.6 per cent by its subsidiary Anchorage Infrastructure Investments Holdings. The Airports Authority of India (AAI) and the Karnataka State Industrial and Infrastructure Development Corporation will continue to hold a share of 13 per cent each in BIAL.